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New York, Feb. 01, 2023 (GLOBE NEWSWIRE) — The Insight Partners published latest research study on “Construction Equipment Market Size, Share, Growth, Trends and Global Forecasts to 2028 – COVID-19 Impact and Global Analysis – by Equipment Type (Heavy Construction Vehicles, Earthmoving Equipment, Material Handling Equipment, and Others), Application (Residential, Commercial, and Industrial), and Geography,” the global construction equipment market size is expected to grow from USD 126.06 billion in 2022 to USD 223.45 billion by 2028; it is estimated to grow at a CAGR of 10.0% from 2022 to 2028.
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Global Construction Equipment Market Report Scope, Segmentations, Regional & Country Scope:
|Market Size Value in||USD 126.06 billion in 2022|
|Market Size Value by||USD 223.45 billion by 2028|
|Growth rate||CAGR of 10.0% from 2022-2028|
|No. of Pages||157|
|No. of Tables||61|
|No. of Charts & Figures||74|
|Historical data available||Yes|
|Segments covered||Equipment Type and Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Companies Covered||Caterpillar Inc,CNH Industrial N.V.,Komatsu Ltd,Liebherr,Terex Corporation,Zoomlion Heavy Industry Science&Technology Co., Ltd.,J C Bamford Excavators Ltd. (JCB),Deere & Company,AB Volvo,Hitachi Construction Machinery Co., Ltd.|
|Key Research Capabilities||Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development|
|Global Construction Equipment Market Forecast to 2028 – Latest COVID-19 Analysis||https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00007469/|
Global Construction Equipment Market: Competitive Landscape and Key Developments
Caterpillar Inc.; CNH Industrial N.V.; Hitachi Construction Machinery Co., Ltd; J C Bamford Excavators Ltd.; Deere & Company; Komatsu Ltd.; Liebherr-International Deutschland GmbH; Terex Corporation; Volvo CE; and Zoomlion Heavy Industry Science and Technology Co., Ltd. are among the key players profiled during the study. In addition, several other essential market players were also studied and analyzed to get a holistic view of the global construction equipment market and its ecosystem.
In March 2022: Caterpillar Inc. announced that its worldwide headquarters will be relocated from Deerfield, Illinois to the company’s existing facility in Irving, Texas. The company will begin transitioning its headquarters to Irving in 2022.
In February 2021: Proterra Inc. and Komatsu Ltd. announced a new collaboration to use Proterra’s battery technology to electrify next-generation underground mining equipment. Proterra will offer Komatsu with its H Series battery system technology to build battery-electric LHDs, drills, and bolters for underground hard rock mining.
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Heavy-duty vehicles developed specifically to carry out construction duties, most commonly earthwork operations, are referred to as construction equipment. The proper use of suitable equipment helps to the project’s economy, quality, safety, speed, and timeliness. It is not always desired or feasible for the contractor to possess all of the construction equipment needed for the project. Excavating, digging dirt, moving it over great distances, placement, compacting, levelling, dozing, grading, hauling, and so on are among the main processes involved in the building of any construction project. Various excavation duties, such as excavating and moving the ground, are carried out with earthmoving equipment. Earthmoving equipment is available in various shapes and sizes. They are mostly used for repairing, constructing, elevating, agricultural, and demolition purposes. Excavators are earth-moving machines with buckets, arms, rotating cabs, and moveable tracks. A backhoe, also known as a rear actor or back digger, is a kind of excavation equipment having a digging bucket attached to the end of a two-part articulated arm. Loader is a construction machine that moves or loads materials, including asphalt, demolition waste, dirt, snow, feed, gravel, logs, raw minerals, recycled material, rock, sand, and woodchips, into or onto another type of machinery.
The COVID-19 pandemic has had a severe influence on the construction industry. The sales of construction equipment have decreased across the world. Infrastructure investments in residential, commercial, and industrial building, mining, and well construction and institutional expenditure impact the construction equipment producers both positively and negatively. The US, the UK, China, and India are among the disproportionately affected countries. However, there is a high demand for infrastructure projects related to hospitals and other medical facilities, labs, and shipping and transportation. Furthermore, several nations have begun to gradually resume activities in various industries, including the construction industry.
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Technological Innovations in Global Construction Equipment Market:
Electrification is shaping the construction equipment industry, which presents substantial opportunities and design options. Electrification has been rising in most of the market categories, including construction equipment for automobiles, buses, and other vehicles. The maturation and affordability of modern technologies and the tightening of pollution restrictions offer feasibility to electrification, which have altered the future of the construction equipment business. Several cities across the world have issued prohibitions on the use of diesel within city borders, affecting construction equipment operations in certain areas. In China and Europe, strong pollution standards for heavy machinery and equipment use are being imposed. With the usage of electric construction equipment, these rules related to emission and noise pollution criteria can be easily fulfilled. The number of machines and charging stations required will be determined in large part by the desired production/transport volumes and the haul cycle. The continuous advancements in electric variants of existing/new products provide lucrative opportunities for the growth of the construction equipment market during the forecasted period.
Construction Equipment Market: Sector Overview
Based on equipment type, the construction equipment market is segmented into heavy construction vehicles, earthmoving equipment, material handling equipment, and others. The heavy construction vehicles segment led the market in 2021. Based on application, the market is segmented into residential, commercial, and industrial. The commercial segment led the market in 2021. Based on geography, the global construction equipment market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Asia-Pacific dominated the market in 2021.
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Go through further research published by The Insight Partners:
3D Printing Construction Market– The increasing advancements in the construction sector are significantly driving the global 3D printing construction market.
Geotechnical Construction Services Market – The geotechnical construction services market is expected to grow from US$ 2,112.5 million in 2021 to US$ 3,192.5 million by 2028; it is estimated to grow at a CAGR of 6.1% during 2021–2028.
Bridge Construction Market– A bridge is a horizontally spanning superstructure between supports. A bridge’s primary role is to bear vertical weights. It allows you to get around an impediment without having to go beneath the bridge.
Modular Construction Market – Constructing a building off-site while using the same raw materials, and designing to the same codes as well as the standards in the quicker time period is defined as modular constructions of the buildings.
Construction Dumper Market– A dumper is a vehicle that is used for carrying bulk material on the construction sites.
Construction Lift Market– The rising number of high rise residential buildings and non-residential building in the developed, as well as developing countries, are leading the construction lift market to propel over the years.
Dry Construction Market– Dry construction uses dry materials including plywood, gypsum board plywood for construction purpose in place of concrete, bricks, and plaster.
Heavy Construction Equipment Market– Heavy Construction Vehicle are heavy duty vehicles and they are specially designed for construction task such as lifting, material handling and excavation and they can also be used for transportation purpose.
Construction 4.0 Market– The arrival of digitization in various countries leads to the growth of advanced technologies in the construction industry, which is termed construction 4.0.
Vertical Garden Construction Market– A vertical garden construction is a method used to grow plants on a vertically suspended board by using hydroponics, a way of using plants without soil.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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E-mail: [email protected]
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Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research
BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.
Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.”
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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Savory & Partners: Digital Nomad Visas Sparking a Migration Boom
DUBAI, UAE, Dec. 9, 2023 /PRNewswire/ — The simplicity and lax requirements of digital nomad visas have made them easily accessible, and countries like Portugal and Spain, which have excellent infrastructure, great internet connection, and an outstanding standard of living, draw in more digital nomads by the day, according to experts at Dubai-headquartered citizenship and residency by investment advisors Savory and Partners.
A recent research quoted by the company estimates that there are 16.9 million digital nomads roaming the globe. This is a whopping 162% increase from 2019, just four years earlier.
As soon as Portugal introduced its digital nomad visa in October of 2022, the applications started pouring in. While the government hasn’t announced the number of applications it has received, Portugal’s Labour Minister did announce that the country approved 550 applications within the first six months.
Two months after launching its visa in September of 2021, Greece received 2,918 applications, approving an astonishing 1,693 applicants. The government is yet to release any new statistics, but going off that outstanding start it is safe to assume it is still garnering massive attention.
Germany also boasts impressive numbers, having issued a total of 3,638 visas in just one year since the introduction of its visa in 2018.
According to Residency Malta, the government branch responsible for the digital nomad visa, it has issued 1,041 visas to date, with an average approval rate of 78%.
Croatia, one of the first countries to introduce a pure digital nomad visa in early 2021 as a response to the rise in remote workers, has approved 680 applications, while 672 are still pending approval.
Not just Europe
“It’s not just Europe but even Barbados’ digital nomad visa, dubbed the Welcome Stamp, has been doing outstandingly well, receiving a total of 3,511 applications between 2020 and 2022”, a digital nomad specialist at Savory & Partners reports.
While digital nomads typically use visa-free access or visas to stay in countries for a few months at a time before moving on to the next, digital nomad visas provide a sense of comfort and stability that aligns perfectly with their lifestyle, giving them ample time to enjoy the country they are in before moving on to the next.
The rapid growth in application numbers and the surging demand for digital nomad visas isn’t surprising. They are extremely simple to apply to, have fast processing times ranging from a few days to a couple of months, and they do not require any business establishment or investment.
Portugal’s digital nomad visa, for example, only requires applicants to prove a monthly income of €3,040 per month, while Spain’s visa has a lower threshold of just €2,160 per month.
Savory & Partners is an accredited agent for multiple governments where citizenship by investment is offered. The company has coverage in over 20 jurisdictions, including Europe and was the first firm to obtain all five authorised agent licenses for the governments of the Caribbean Islands. It has processed second passports for over 4,000 citizens with a 100 per cent success rate.
With a presence in 3 continents and 7 countries and more than 60 experts worldwide, the company’s multinational staff comprises advisors who guide clients in English, Arabic, Farsi, French, Spanish and Hindi.
To know more about Savory & Partners, visit www.savoryandpartners.com.
For more information, please send an email to [email protected] can also call +971 04 430 1717 or send a WhatsApp message to +971 54 440 2955.
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Robotic Lawn Mower Market to Reach $2.4 Billion, by 2032 at 10.9% CAGR: Allied Market Research
The increasing demand for smart appliances for garden maintenance by global consumers, along with the development of IOT enabled features is fueling the growth of the robotic lawn mower market.
WILMINGTON, Del., Dec. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Robotic Lawn Mower Market by Range (Low-Range Robotic Lawn Mower, Medium-Range Robotic Lawn Mower, and High-Range Robotic Lawn Mower), End User (Residential User and Commercial User), and Distribution Channel (Retail and Online): Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global robotic lawn mower market size was valued at $838.5 million in 2022, and is projected to reach $2.4 billion by 2032, growing at a CAGR of 10.9% from 2023 to 2032.
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Prime determinants of growth
The robotic lawn mower market is driven by factors such as increase in demand for automation, rise in advancements for technology, and increase in popularity of online platforms. However, the rise in regular maintenance and repair costs restricts market growth. Moreover, the increase in demand for rental robotic lawn mowers offers new opportunities in the coming years.
Report coverage & details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Range, End User, Distribution Channel, and Region
Increase in demand for automation
Rise in advancements for technology
Reduction in the labor costs
Increase in demand for rental robotic lawn mowers
Growth in the adoption of internet of things
Declining Cost of Batteries/Fuel Cells
Less adoption in developing markets
Regular maintenance and repair costs
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The medium range robotic lawn mower segment to maintain its leadership status throughout the forecast period
Based on range, the medium range robotic lawn mower segment dominated the market in 2022 accounting for more than half of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.4% from 2023 to 2032, owing to the increase in residential and commercial spaces such as buildings, corporate spaces, sports centers, and public parks, which has fueled the requirement for medium range robotic lawn mowers.
The residential segment to maintain its leadership status throughout the forecast period
Based on end user, the residential segment dominated the market in 2022 accounting for less than three-fourths of the market share and is expected to dominate the market during the forecast period. This segment is projected to manifest the highest CAGR of 10.7% from 2023 to 2032, owing to the increase in the demand for low and medium range robotic lawn mowers in the residential sector due to the increased requirement for lawn care and maintenance.
The retail segment to maintain its lead position during the forecast period
On the basis of the distribution channel, the retail segment dominated the market in 2022 accounting for less than half of the market share and is expected to maintain its dominance during the forecast period. The increased demand for ecologically friendly and sustainable robotic lawn mowers, which is being driven by the rising awareness of environmental challenges, is one of the main factors boosting retail sales.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for less than two-fifths of the market share and is expected to maintain its dominance during the forecast period. The growing popularity in artificial intelligence for performing day-to-day activities with higher efficiency is among the primary factors driving the Europe robotic lawn mower market.
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Leading Market Players: –
Robert Bosch GmbHHusqvarna ABHonda Motor Co., Ltd.Zucchetti Centro Sistemi S.p.A.Stiga C S.a.r.l.Andreas Holding AG & Co. KGPositec Tool CorporationWiper S.R.L.Suzhou Cleva Electric Appliance Co., Ltd.Stanley Black & Decker, Inc.The report provides a detailed analysis of these key players in the robotic lawn mower market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa1209 Orange Street,Corporation Trust Center,Wilmington, New Castle,Delaware 19801 USA.USA/Canada (Toll Free):+1-800-792-5285UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: [email protected]: www.alliedmarketresearch.comAllied Market Research Blog:https://blog.alliedmarketresearch.com/consumer-goods
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